ROSEVILLE, Calif., Aug. 05, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- InnerScope Hearing Technologies Inc. (OTCQB: INND) ("InnerScope") a manufacturer and Direct-to-Consumer ("DTC") distributor/retailer of FDA-Registered Hearing Aids, Personal Sound Amplifiers Products, ("Hearing Products") Hearing Related Treatment Therapies, Doctor-Formulated Dietary Hearing Supplements and proprietary CBD Oil ("Hearing Health Products") (collectively "Hearing Product Portfolio"), announced its plans to launch a network of interactive fully automated (unattended) Point of Sale Hearing Screening Retail Kiosks and Untreated Hearing Loss Information Centers ("Hearing Kiosks") to be located inside large major hospitals, sporting venues, & other public locations, grocery stores, chain retailers, local retailers, pharmacy chains, grocery stores, hospitals, sporting venues, & other public locations.
The development of the Hearing Kiosks is part of InnerScope's newly revised "Hearing Better in America" awareness campaign, which specifically targets approximately the 42+ million Americans or 84% of the total U.S. hearing impaired market who are currently at high risk and/or living with multiple health and cognitive consequences due to untreated hearing loss (the "Underserved Market"). According to the President's Council of Advisors on Science and Technology (PCAST), the Underserved Market is the result of the extreme high cost and low accessibility to affordable hearing healthcare solutions. InnerScope's Hearing Kiosks will not only give the Underserved Market easy access to a quick 2-minute self-administered hearing-screening test, but also provide awareness about untreated hearing loss and information on InnerScope's affordable DTC hearing solutions.
With the current hearing healthcare sales and distribution model only serving approximately 16% of the market, it's apparent the Underserved Market is looking for an easier, more convenient no-hassle way to purchase hearing healthcare products. InnerScope's interactive automated design of its Hearing Kiosks (patterned after Redbox and its 41,500 automated retail kiosks locations) combined with its plans to have thousands of locations inside large major retailers, local retailers, pharmacy chains, grocery stores, hospitals, sporting venues, & other public locations will give the hearing impaired consumer the ability to have easy access to more affordable and convenient alternative choice to purchase Hearing Products.
Some of InnerScope's Hearing Kiosks unique features include:
- Self-administered 2-minute touch screen pure tone hearing screening test.
- Calculates the participants' tests results instantly and will accurately sort the participants into different hearing ability categories outlining examples of difficult everyday listening situations based on the hearing ability category.
- A network of central controlled interconnected cloud-based highly secure HIPAA compliant infrastructure for collection of all participants' contact information, hearing screening test results and survey information for acquisition and retention of new customers.
- Provides the latest information about untreated hearing loss.
- Directs participants to seek hearing help solutions based on their hearing needs or to refer a friend or family member to have their hearing screening test.
- Will be able to generate Point of Sale of InnerScope's Hearing Products from the Hearing Kiosks itself and/or will direct the participants to the section within the store where Hearing Products are sold.
Recently, InnerScope's technology vendor placed one hearing-screening kiosk in an optical retail business over a 3-month period with some amazing ROI results. Based on those results, InnerScope's is anticipating each Hearing Kiosk location will generate 500+ completed hearing screenings per month with hearing loss detected in approximately 320 participants and 57 of those participants will decide to purchase InnerScope's Hearing Products either the same day or within a few weeks. For the remaining participants that decided not purchase, InnerScope will continue to promote the benefits of better hearing by marketing directly to those individuals. InnerScope estimates each Hearing Kiosk location should generate $20,000 per month in gross revenue.
"InnerScope continues to be the disruptive leader in the hearing industry with the development of its Point of Sale Hearing Retail Kiosks," said Matthew Moore, CEO of InnerScope Hearing Technologies. "We are extremely excited about our Hearing Kiosks, which have already created a lot of interest from major retailers. We plan to start ramping-up the deployment of the Hearing Kiosks in many locations very soon and will continue deploying for years to come."
"With the population growing older everyday, coupled with the fact that people are damaging their hearing at an earlier age, either by ototoxic drugs (medication that negatively impacts hearing) or being exposed to loud noises, more people are needing hearing help than ever before. Given that fact, why do we have 42+ million Americans not getting the hearing help they need? The reason is simple; the general population does not have easy access to check their hearing on a regular basis. Unfortunately, less than 20% of doctors ever check the ears or ask about hearing. There are many free health screening tests and health awareness literature readily available at local pharmacies, like self-administered blood pressure machines, but nothing about checking one's hearing," continued Mr. Moore.
"Moreover, there are approximately 15,000 hearing healthcare practices in the United States, serving about 8 million hearing-impaired individuals, which makes up the $5 billion-dollar industry with only 16% of the total hearing-impaired market. The truth is there are not enough hearing healthcare professionals and/or practices in the current hearing healthcare sale and delivery model (the "Traditional Model") to even begin to help the 42+ million untreated hearing-impaired population. It seems very obvious that the ever-growing Underserved Market is not attracted to the Traditional Model. Therefore, we believe InnerScope's cutting-edge Hearing Kiosks (located inside thousands of major retail stores, pharmacy chains, grocery stores, and other public locations) are the answer to capture the Underserved Market by allowing a greater access to an easy, more convenient and no-hassle way to sell and deliver hearing healthcare products. InnerScope's Hearing Kiosks will not only increase the much needed awareness of multiple health and cognitive consequences of untreated hearing loss, but also, by allowing the consumer free and easy access to regularly check and track their hearing at any time, the consumer is able to make an informed decision based on their hearing needs and decide when they're ready to purchase InnerScope's DTC Affordable Hearing Products," concluded Mr. Moore.
If your business or public space is interested in signing up for the Interactive Fully Automated Hearing Screening Kiosks through a No-Cost Program to your business, please contact info@innd.com for more information. Start Driving Additional Customers to your locations as well as providing a well needed service to your customers.
About InnerScope Hearing Technologies
InnerScope Hearing Technologies (OTCQB: INND) is a rapidly expanding consolidator of the hearing aid industry. Management is applying decades of profitable industry experience and technology to an antiquated and disjointed industry, unlocking scale and efficiency, which will serve all of InnerScope's stakeholders. Its direct-to-consumer model is revolutionizing the industry with its Walmart.com, Sears.com and Kmart.com relationship representing a paramount shift in the consumption of hearing aids by the hearing impaired.
In addition, InnerScope plans to continue to open, acquire, and operate a physical chain of clinicsaid audiological and retail hearing. InnerScope's mission is to serve approximately 1.2 billion people around the globe that are suffering with 25db or greater hearing loss across the entire hearing impaired vertical from R&D and manufacturing through direct consumer sales and services. For more information, please visit: www.innd.com. For the Most Up-to-Date information about InnerScope Hearing Technologies (OTCQB: INND), please visit and follow our Official Twitter account @inndstock Page. https://twitter.com/inndstock
Safe Harbor
This presentation contains forward-looking statements, which relate to future events or InnerScope Hearing Technologies future performance or financial condition. Any statements that are not statements of historical fact (including statements containing the words "believes," "should," "plans," "anticipates," "expects," "estimates" and similar expressions) should also be considered to be forward-looking statements. These forward-looking statements are not guarantees of future performance, condition or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as result of a number of factors, including those described from time to time in InnerScope Hearing Technologies filings with the Securities and Exchange Commission. InnerScope Hearing Technologies undertakes no duty to update any forward-looking statements made herein.
Contact
InnerScope Hearing Technologies, Inc.
Investor Relations
Info@innd.com
916-218-4100
www.innd.com
President's Council of Advisors on Science and Technology (PCAST)
For the Most Up-to-Date information about InnerScope Hearing Technologies (OTCQB: INND), please visit and follow our Official Twitter account @inndstock Page.
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